Empowering People in Oil and Gas

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Bordered by the largely untapped Caspian Sea, Azerbaijan is fast becoming a major oil exporter whose developing resources are increasing rather than declining alongside other non-OPEC countries' output. As of January 2009, the Central Asian country contained estimated proven oil and natural gas reserves of roughly 7 billion barrels and 30 Tcf, respectively. Azerbaijan's massive Shah Deniz field is one of the world's largest natural gas discoveries of the past two decades and is operated by BP, with state-run SOCAR retaining a 10% stake in the field.